by Ian Cooper

Cannabis stocks could see higher highs.

For one, as we near the U.S. elections, we could hear more about potential legalization. After all, it’s a hot topic, and about 70% of the population wants to see legalization. 

Two, Vice President Kamala Harris just said, “We need to legalize marijuana,” as quoted by Marijuana Moment.

They added: For the first time since joining the ticket as President Joe Biden’s running mate in 2020, Vice President Kamala Harris has called for the legalization of marijuana—signaling a possible shift in the administration’s platform heading into the November elections. Harris told a room of cannabis pardon recipients at the White House on Friday that “we need to legalize marijuana,” a participant in the meeting has revealed.

In addition, the Pew Research Center just found that about nine in 10 Americans (88%) said that cannabis should be legal for medical or recreational use. About 57% said cannabis should be legal for both medical and recreational use.

While investors can always jump into cannabis stocks, like Canopy Growth (CGC), Green Thumb (GTBIF), and even dividend-paying stocks like Innovative Industrial (IIPR), there are also ETFs:

ETFMG Alternative Harvest ETF (MJ)

With an expense ratio of 0.75%, the MJ ETF tracks the Prime Alternative Harvest Index, designed to measure the performance of companies within the cannabis ecosystem benefitting from global medicinal and recreational cannabis legalization initiatives. 

Global X Cannabis ETF (POTX) 

With an expense ratio of 0.50%, the ETF seeks to invest in companies across the cannabis industry. This includes companies involved in the legal production, growth and distribution of cannabis and industrial hemp, as well as those involved in providing financial services to the cannabis industry, pharmaceutical applications of cannabis, cannabidiol (i.e., CBD), or other related uses. 

Advisor Shares Pure US Cannabis (MSOS)

With an expense ratio of 0.73%, the ETF is the first actively managed U.S.-listed ETF with dedicated cannabis exposure focusing exclusively on U.S. companies, including multi-state operators. The portfolio manager allocates across an investable universe of U.S. companies spanning a variety of cannabis-related businesses.